Updated Dec 21, 2023
Jarred Elmar And Ben Genet's Industrial Property In Kissimmee, FL Acquired With $6.4M Loan - Black Bear Capital Partners
2420 Smith Street, Kissimmee, Florida 34744, United States
$6,400,000
Building Size
—
Asset Type
Industrial
Closing
Sep 19, 2022
About this deal
AI
The industrial property located at 2420-2450 Smith Street in Kissimmee, FL has been acquired in a closed transaction. The property spans 105,000 square feet and is classified as an industrial asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,400,000
- Address: 2420-2450 Smith Street, Kissimmee, FL
The acquisition of this industrial property was made possible through a non-recourse, 5-year fixed-rate loan. The loan amount of $6,400,000 will be used for the purchase, and the terms of the loan include interest-only payments.
Leading the transaction were Jarred Elmar from The Geneva Group and Ben Genet from The Genet Property Group, representing the landlord. Eric Trombly of Black Bear Capital Partners acted as the broker in this deal.
Kissimmee Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93